UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 25, 2005 IMPAC SECURED ASSETS CORPORATION Mortgage Pass-Through Certificates, Series 2005-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-117991-03 Pooling and Servicing Agreement) (Commission 54-2176762 (State or other File Number) 54-2176763 jurisdiction 54-2176764 of Incorporation) IRS EIN c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On August 25, 2005 a distribution was made to holders of IMPAC SECURED ASSETS CORPORATION, Mortgage Pass-Through Certificates, Series 2005-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-1 Trust, relating to the August 25, 2005 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IMPAC SECURED ASSETS CORPORATION Mortgage Pass-Through Certificates, Series 2005-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 8/29/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-1 Trust, relating to the August 25, 2005 distribution. EX-99.1 Impac Mortgage Pass-Through Certificates Mortgage Pass-Through Certificates Record Date: 7/29/2005 Distribution Date: 8/25/2005 Impac Mortgage Pass-Through Certificates Mortgage Pass-Through Certificates Series 2005-1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution <s> <c> <c> <c> <c> <c> 1A1 45254TRN6 SEN 4.29462% 25,198,632.74 90,182.23 1AX 45254TSK1 SEN 0.86000% 0.00 36,400.77 2A1 45254TRP1 SEN 5.25382% 18,134,263.21 79,395.18 3A1 45254TRQ9 SEN 4.98559% 62,324,168.42 258,935.49 3AX 45254TSL9 SEN 0.35000% 0.00 28,705.88 4A1 45254TRR7 SEN 5.14464% 11,527,736.97 49,421.71 5A1 45254TRS5 SEN 3.73000% 44,055,739.03 141,504.59 5A2 45254TRT3 SEN 3.57000% 109,508,910.36 336,648.64 5A3 45254TRU0 SEN 3.74000% 160,394,000.00 516,557.79 5A4 45254TRV8 SEN 3.84000% 19,837,000.00 65,594.35 5A5 45254TRW6 SEN 3.81000% 37,089,058.16 121,683.02 5A6 45254TRX4 SEN 3.77000% 48,950,821.14 153,787.16 5A7 45254TRY2 SEN 3.81000% 12,237,705.29 40,149.87 5AX 45254TRZ9 SEN 1.91776% 0.00 785,976.74 B1 45254TSD7 SUB 5.63561% 30,742,973.33 144,379.55 B2 45254TSE5 SUB 5.63561% 13,945,080.70 65,490.88 B3 45254TSF2 SUB 5.63561% 8,874,414.97 41,677.30 B4 45254TSG0 SUB 5.63561% 8,873,415.04 41,672.60 B5 45254TSH8 SUB 5.63561% 6,972,540.35 32,745.44 B6 45254TSJ4 SUB 5.63561% 5,071,836.85 23,819.09 R1 45254TSA3 SEN 4.30786% 0.00 0.00 R2 45254TSB1 SEN 4.30786% 0.00 0.00 R3 45254TSC9 SEN 4.30786% 0.00 0.00 Totals 623,738,296.56 3,054,728.28 Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses <s> <c> <c> <c> <c> 1A1 826,745.77 0.00 24,371,886.97 916,928.00 0.00 1AX 0.00 0.00 0.00 36,400.77 0.00 2A1 774.56 0.00 18,133,488.65 80,169.74 0.00 3A1 452,126.11 0.00 61,872,042.31 711,061.60 0.00 3AX 0.00 0.00 0.00 28,705.88 0.00 4A1 1,258.34 0.00 11,526,478.63 50,680.05 0.00 5A1 1,572,402.98 0.00 42,483,336.05 1,713,907.57 0.00 5A2 10,341,170.26 0.00 99,167,740.09 10,677,818.90 0.00 5A3 0.00 0.00 160,394,000.00 516,557.79 0.00 5A4 0.00 0.00 19,837,000.00 65,594.35 0.00 5A5 1,323,753.66 0.00 35,765,304.51 1,445,436.68 0.00 5A6 1,747,114.42 0.00 47,203,706.72 1,900,901.58 0.00 5A7 436,778.61 0.00 11,800,926.68 476,928.48 0.00 5AX 0.00 0.00 0.00 785,976.74 0.00 B1 1,983.98 0.00 30,740,989.35 146,363.53 0.00 B2 899.94 0.00 13,944,180.76 66,390.82 0.00 B3 572.70 0.00 8,873,842.27 42,250.00 0.00 B4 572.64 0.00 8,872,842.40 42,245.24 0.00 B5 449.97 0.00 6,972,090.38 33,195.41 0.00 B6 327.31 0.00 5,071,509.54 24,146.40 0.00 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 16,706,931.25 0.00 607,031,365.31 19,761,659.53 0.00 <FN> All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties. </FN> Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) <s> <c> <c> <c> <c> <c> <c> 1A1 25,200,000.00 25,198,632.74 696.29 826,049.48 0.00 0.00 1AX 0.00 0.00 0.00 0.00 0.00 0.00 2A1 18,136,000.00 18,134,263.21 0.00 774.56 0.00 0.00 3A1 62,836,000.00 62,324,168.42 955.31 451,170.80 0.00 0.00 3AX 0.00 0.00 0.00 0.00 0.00 0.00 4A1 11,922,000.00 11,527,736.97 1,258.23 0.11 0.00 0.00 5A1 45,000,000.00 44,055,739.03 3,325.78 1,569,077.20 0.00 0.00 5A2 115,719,000.00 109,508,910.36 21,872.54 10,319,297.72 0.00 0.00 5A3 160,394,000.00 160,394,000.00 0.00 0.00 0.00 0.00 5A4 19,837,000.00 19,837,000.00 0.00 0.00 0.00 0.00 5A5 37,884,000.00 37,089,058.16 2,799.86 1,320,953.79 0.00 0.00 5A6 50,000,000.00 48,950,821.14 3,695.31 1,743,419.11 0.00 0.00 5A7 12,500,000.00 12,237,705.29 923.83 435,854.78 0.00 0.00 5AX 0.00 0.00 0.00 0.00 0.00 0.00 B1 30,745,000.00 30,742,973.33 1,983.98 0.00 0.00 0.00 B2 13,946,000.00 13,945,080.70 899.94 0.00 0.00 0.00 B3 8,875,000.00 8,874,414.97 572.70 0.00 0.00 0.00 B4 8,874,000.00 8,873,415.04 572.64 0.00 0.00 0.00 B5 6,973,000.00 6,972,540.35 449.97 0.00 0.00 0.00 B6 5,072,171.20 5,071,836.85 327.31 0.00 0.00 0.00 R1 100.00 0.00 0.00 0.00 0.00 0.00 R2 100.00 0.00 0.00 0.00 0.00 0.00 R3 100.00 0.00 0.00 0.00 0.00 0.00 Totals 633,913,471.20 623,738,296.56 40,333.69 16,666,597.55 0.00 0.00 <FN> (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. </FN> Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution <s> <c> <c> <c> <c> 1A1 826,745.77 24,371,886.97 0.96713837 826,745.77 1AX 0.00 0.00 0.00000000 0.00 2A1 774.56 18,133,488.65 0.99986153 774.56 3A1 452,126.11 61,872,042.31 0.98465915 452,126.11 3AX 0.00 0.00 0.00000000 0.00 4A1 1,258.34 11,526,478.63 0.96682424 1,258.34 5A1 1,572,402.98 42,483,336.05 0.94407413 1,572,402.98 5A2 10,341,170.26 99,167,740.09 0.85697025 10,341,170.26 5A3 0.00 160,394,000.00 1.00000000 0.00 5A4 0.00 19,837,000.00 1.00000000 0.00 5A5 1,323,753.66 35,765,304.51 0.94407413 1,323,753.66 5A6 1,747,114.42 47,203,706.72 0.94407413 1,747,114.42 5A7 436,778.61 11,800,926.68 0.94407413 436,778.61 5AX 0.00 0.00 0.00000000 0.00 B1 1,983.98 30,740,989.35 0.99986955 1,983.98 B2 899.94 13,944,180.76 0.99986955 899.94 B3 572.70 8,873,842.27 0.99986955 572.70 B4 572.64 8,872,842.40 0.99986955 572.64 B5 449.97 6,972,090.38 0.99986955 449.97 B6 327.31 5,071,509.54 0.99986955 327.31 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 Totals 16,706,931.25 607,031,365.31 0.95759341 16,706,931.25 Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion <s> <c> <c> <c> <c> <c> 1A1 25,200,000.00 999.94574365 0.02763056 32.77974127 0.00000000 1AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2A1 18,136,000.00 999.90423522 0.00000000 0.04270843 0.00000000 3A1 62,836,000.00 991.85448501 0.01520323 7.18013241 0.00000000 3AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000 4A1 11,922,000.00 966.92979114 0.10553850 0.00000923 0.00000000 5A1 45,000,000.00 979.01642289 0.07390622 34.86838222 0.00000000 5A2 115,719,000.00 946.33474503 0.18901425 89.17548302 0.00000000 5A3 160,394,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 5A4 19,837,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 5A5 37,884,000.00 979.01642276 0.07390613 34.86838217 0.00000000 5A6 50,000,000.00 979.01642280 0.07390620 34.86838220 0.00000000 5A7 12,500,000.00 979.01642320 0.07390640 34.86838240 0.00000000 5AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B1 30,745,000.00 999.93408131 0.06453017 0.00000000 0.00000000 B2 13,946,000.00 999.93408146 0.06453033 0.00000000 0.00000000 B3 8,875,000.00 999.93408113 0.06452958 0.00000000 0.00000000 B4 8,874,000.00 999.93408159 0.06453009 0.00000000 0.00000000 B5 6,973,000.00 999.93408146 0.06453033 0.00000000 0.00000000 B6 5,072,171.20 999.93408148 0.06453055 0.00000000 0.00000000 R1 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R3 100.00 0.00000000 0.00000000 0.00000000 0.00000000 <FN> (2) All Classes are per $1,000 denomination </FN> Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution <s> <c> <c> <c> <c> <c> 1A1 0.00000000 32.80737183 967.13837183 0.96713837 32.80737183 1AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2A1 0.00000000 0.04270843 999.86152680 0.99986153 0.04270843 3A1 0.00000000 7.19533564 984.65914937 0.98465915 7.19533564 3AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 4A1 0.00000000 0.10554773 966.82424342 0.96682424 0.10554773 5A1 0.00000000 34.94228844 944.07413444 0.94407413 34.94228844 5A2 0.00000000 89.36449727 856.97024767 0.85697025 89.36449727 5A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 5A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 5A5 0.00000000 34.94228857 944.07413446 0.94407413 34.94228857 5A6 0.00000000 34.94228840 944.07413440 0.94407413 34.94228840 5A7 0.00000000 34.94228880 944.07413440 0.94407413 34.94228880 5AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1 0.00000000 0.06453017 999.86955115 0.99986955 0.06453017 B2 0.00000000 0.06453033 999.86955113 0.99986955 0.06453033 B3 0.00000000 0.06452958 999.86955155 0.99986955 0.06452958 B4 0.00000000 0.06453009 999.86955150 0.99986955 0.06453009 B5 0.00000000 0.06453033 999.86955113 0.99986955 0.06453033 B6 0.00000000 0.06453055 999.86955093 0.99986955 0.06453055 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 <FN> (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. </FN> Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall <s> <c> <c> <c> <c> <c> <c> 1A1 25,200,000.00 4.29462% 25,198,632.74 90,182.23 0.00 0.00 1AX 0.00 0.86000% 25,198,632.74 18,059.02 0.00 0.00 2A1 18,136,000.00 5.25382% 18,134,263.21 79,395.18 0.00 0.00 3A1 62,836,000.00 4.98559% 62,324,168.42 258,935.49 0.00 0.00 3AX 0.00 0.35000% 62,324,168.42 18,177.88 0.00 0.00 4A1 11,922,000.00 5.14464% 11,527,736.97 49,421.71 0.00 0.00 5A1 45,000,000.00 3.73000% 44,055,739.03 141,504.59 0.00 0.00 5A2 115,719,000.00 3.57000% 109,508,910.36 336,648.64 0.00 0.00 5A3 160,394,000.00 3.74000% 160,394,000.00 516,557.79 0.00 0.00 5A4 19,837,000.00 3.84000% 19,837,000.00 65,594.35 0.00 0.00 5A5 37,884,000.00 3.81000% 37,089,058.16 121,683.02 0.00 0.00 5A6 50,000,000.00 3.77000% 48,950,821.14 153,787.16 0.00 0.00 5A7 12,500,000.00 3.81000% 12,237,705.29 40,149.87 0.00 0.00 5AX 0.00 1.91776% 432,073,233.98 690,511.38 0.00 0.00 B1 30,745,000.00 5.63561% 30,742,973.33 144,379.55 0.00 0.00 B2 13,946,000.00 5.63561% 13,945,080.70 65,490.88 0.00 0.00 B3 8,875,000.00 5.63561% 8,874,414.97 41,677.30 0.00 0.00 B4 8,874,000.00 5.63561% 8,873,415.04 41,672.60 0.00 0.00 B5 6,973,000.00 5.63561% 6,972,540.35 32,745.44 0.00 0.00 B6 5,072,171.20 5.63561% 5,071,836.85 23,819.09 0.00 0.00 R1 100.00 4.30786% 0.00 0.00 0.00 0.00 R2 100.00 4.30786% 0.00 0.00 0.00 0.00 R3 100.00 4.30786% 0.00 0.00 0.00 0.00 Totals 633,913,471.20 2,930,393.17 0.00 0.00 Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance <s> <c> <c> <c> <c> <c> 1A1 0.00 0.00 90,182.23 0.00 24,371,886.97 1AX 0.00 0.00 36,400.77 0.00 24,371,886.97 2A1 0.00 0.00 79,395.18 0.00 18,133,488.65 3A1 0.00 0.00 258,935.49 0.00 61,872,042.31 3AX 0.00 0.00 28,705.88 0.00 61,872,042.31 4A1 0.00 0.00 49,421.71 0.00 11,526,478.63 5A1 0.00 0.00 141,504.59 0.00 42,483,336.05 5A2 0.00 0.00 336,648.64 0.00 99,167,740.09 5A3 0.00 0.00 516,557.79 0.00 160,394,000.00 5A4 0.00 0.00 65,594.35 0.00 19,837,000.00 5A5 0.00 0.00 121,683.02 0.00 35,765,304.51 5A6 0.00 0.00 153,787.16 0.00 47,203,706.72 5A7 0.00 0.00 40,149.87 0.00 11,800,926.68 5AX 0.00 0.00 785,976.74 0.00 416,652,014.06 B1 0.00 0.00 144,379.55 0.00 30,740,989.35 B2 0.00 0.00 65,490.88 0.00 13,944,180.76 B3 0.00 0.00 41,677.30 0.00 8,873,842.27 B4 0.00 0.00 41,672.60 0.00 8,872,842.40 B5 0.00 0.00 32,745.44 0.00 6,972,090.38 B6 0.00 0.00 23,819.09 0.00 5,071,509.54 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 3,054,728.28 0.00 <FN> (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. </FN> Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall <s> <c> <c> <c> <c> <c> <c> 1A1 25,200,000.00 4.29462% 999.94574365 3.57865992 0.00000000 0.00000000 1AX 0.00 0.86000% 999.94574365 0.71662778 0.00000000 0.00000000 2A1 18,136,000.00 5.25382% 999.90423522 4.37776687 0.00000000 0.00000000 3A1 62,836,000.00 4.98559% 991.85448501 4.12081434 0.00000000 0.00000000 3AX 0.00 0.35000% 991.85448501 0.28929085 0.00000000 0.00000000 4A1 11,922,000.00 5.14464% 966.92979114 4.14542107 0.00000000 0.00000000 5A1 45,000,000.00 3.73000% 979.01642289 3.14454644 0.00000000 0.00000000 5A2 115,719,000.00 3.57000% 946.33474503 2.90919071 0.00000000 0.00000000 5A3 160,394,000.00 3.74000% 1000.00000000 3.22055557 0.00000000 0.00000000 5A4 19,837,000.00 3.84000% 1000.00000000 3.30666683 0.00000000 0.00000000 5A5 37,884,000.00 3.81000% 979.01642276 3.21198976 0.00000000 0.00000000 5A6 50,000,000.00 3.77000% 979.01642280 3.07574320 0.00000000 0.00000000 5A7 12,500,000.00 3.81000% 979.01642320 3.21198960 0.00000000 0.00000000 5AX 0.00 1.91776% 979.01642289 1.56460046 0.00000000 0.00000000 B1 30,745,000.00 5.63561% 999.93408131 4.69603350 0.00000000 0.00000000 B2 13,946,000.00 5.63561% 999.93408146 4.69603327 0.00000000 0.00000000 B3 8,875,000.00 5.63561% 999.93408113 4.69603380 0.00000000 0.00000000 B4 8,874,000.00 5.63561% 999.93408159 4.69603336 0.00000000 0.00000000 B5 6,973,000.00 5.63561% 999.93408146 4.69603327 0.00000000 0.00000000 B6 5,072,171.20 5.63561% 999.93408148 4.69603431 0.00000000 0.00000000 R1 100.00 4.30786% 0.00000000 0.00000000 0.00000000 0.00000000 R2 100.00 4.30786% 0.00000000 0.00000000 0.00000000 0.00000000 R3 100.00 4.30786% 0.00000000 0.00000000 0.00000000 0.00000000 <FN> (5) All Classes are per $1,000 denomination </FN> Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance <s> <c> <c> <c> <c> <c> 1A1 0.00000000 0.00000000 3.57865992 0.00000000 967.13837183 1AX 0.00000000 0.00000000 1.44447500 0.00000000 967.13837183 2A1 0.00000000 0.00000000 4.37776687 0.00000000 999.86152680 3A1 0.00000000 0.00000000 4.12081434 0.00000000 984.65914937 3AX 0.00000000 0.00000000 0.45683812 0.00000000 984.65914937 4A1 0.00000000 0.00000000 4.14542107 0.00000000 966.82424342 5A1 0.00000000 0.00000000 3.14454644 0.00000000 944.07413444 5A2 0.00000000 0.00000000 2.90919071 0.00000000 856.97024767 5A3 0.00000000 0.00000000 3.22055557 0.00000000 1000.00000000 5A4 0.00000000 0.00000000 3.30666683 0.00000000 1000.00000000 5A5 0.00000000 0.00000000 3.21198976 0.00000000 944.07413446 5A6 0.00000000 0.00000000 3.07574320 0.00000000 944.07413440 5A7 0.00000000 0.00000000 3.21198960 0.00000000 944.07413440 5AX 0.00000000 0.00000000 1.78091137 0.00000000 944.07413447 B1 0.00000000 0.00000000 4.69603350 0.00000000 999.86955115 B2 0.00000000 0.00000000 4.69603327 0.00000000 999.86955113 B3 0.00000000 0.00000000 4.69603380 0.00000000 999.86955155 B4 0.00000000 0.00000000 4.69603336 0.00000000 999.86955150 B5 0.00000000 0.00000000 4.69603327 0.00000000 999.86955113 B6 0.00000000 0.00000000 4.69603431 0.00000000 999.86955093 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 <FN> (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description. </FN> CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT <s> <c> Beginning Balance 0.00 Deposits Payments of Interest and Principal 19,834,321.76 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 124,335.11 Total Deposits 19,958,656.87 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 196,997.34 Payment of Interest and Principal 19,761,659.53 Total Withdrawals (Pool Distribution Amount) 19,958,656.87 Ending Balance 0.00 PREPAYMENT/CURTAILMENT INTEREST SHORTFALL <s> <c> Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00 SERVICING FEES <s> <c> Gross Servicing Fee 194,918.21 Wells Fargo Bank, N.A. 2,079.13 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 196,997.34 OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance <s> <c> <c> <c> <c> Reserve Fund 0.00 0.00 0.00 0.00 Reserve Fund 0.00 0.00 0.00 0.00 LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> <c> <c> <c> <c> <c> No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 194 0 0 0 194 55,913,337.47 0.00 0.00 0.00 55,913,337.47 60 Days 35 0 0 0 35 9,349,543.06 0.00 0.00 0.00 9,349,543.06 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 229 0 0 0 229 65,262,880.53 0.00 0.00 0.00 65,262,880.53 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 9.260143% 0.000000% 0.000000% 0.000000% 9.260143% 9.210947% 0.000000% 0.000000% 0.000000% 9.210947% 60 Days 1.670644% 0.000000% 0.000000% 0.000000% 1.670644% 1.540208% 0.000000% 0.000000% 0.000000% 1.540208% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 10.930788% 0.000000% 0.000000% 0.000000% 10.930788% 10.751155% 0.000000% 0.000000% 0.000000% 10.751155% Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 8 0 0 0 8 2,999,196.39 0.00 0.00 0.00 2,999,196.39 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 8 0 0 0 8 2,999,196.39 0.00 0.00 0.00 2,999,196.39 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 9.090909% 0.000000% 0.000000% 0.000000% 9.090909% 10.741709% 0.000000% 0.000000% 0.000000% 10.741709% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 9.090909% 0.000000% 0.000000% 0.000000% 9.090909% 10.741709% 0.000000% 0.000000% 0.000000% 10.741709% DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4 0 0 0 4 1,093,397.38 0.00 0.00 0.00 1,093,397.38 60 Days 1 0 0 0 1 123,500.00 0.00 0.00 0.00 123,500.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 5 0 0 0 5 1,216,897.38 0.00 0.00 0.00 1,216,897.38 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 7.407407% 0.000000% 0.000000% 0.000000% 7.407407% 5.306139% 0.000000% 0.000000% 0.000000% 5.306139% 60 Days 1.851852% 0.000000% 0.000000% 0.000000% 1.851852% 0.599332% 0.000000% 0.000000% 0.000000% 0.599332% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 9.259259% 0.000000% 0.000000% 0.000000% 9.259259% 5.905471% 0.000000% 0.000000% 0.000000% 5.905471% DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 13 0 0 0 13 4,201,921.87 0.00 0.00 0.00 4,201,921.87 60 Days 2 0 0 0 2 1,162,000.00 0.00 0.00 0.00 1,162,000.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 15 0 0 0 15 5,363,921.87 0.00 0.00 0.00 5,363,921.87 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 6.046512% 0.000000% 0.000000% 0.000000% 6.046512% 5.965910% 0.000000% 0.000000% 0.000000% 5.965910% 60 Days 0.930233% 0.000000% 0.000000% 0.000000% 0.930233% 1.649814% 0.000000% 0.000000% 0.000000% 1.649814% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 6.976744% 0.000000% 0.000000% 0.000000% 6.976744% 7.615724% 0.000000% 0.000000% 0.000000% 7.615724% DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> 4 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2 0 0 0 2 347,499.90 0.00 0.00 0.00 347,499.90 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2 0 0 0 2 347,499.90 0.00 0.00 0.00 347,499.90 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 5.714286% 0.000000% 0.000000% 0.000000% 5.714286% 2.637285% 0.000000% 0.000000% 0.000000% 2.637285% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 5.714286% 0.000000% 0.000000% 0.000000% 5.714286% 2.637285% 0.000000% 0.000000% 0.000000% 2.637285% DELINQUENT BANKRUPTCY FORECLOSURE REO Total <s> 5 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 167 0 0 0 167 47,271,321.93 0.00 0.00 0.00 47,271,321.93 60 Days 32 0 0 0 32 8,064,043.06 0.00 0.00 0.00 8,064,043.06 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 199 0 0 0 199 55,335,364.99 0.00 0.00 0.00 55,335,364.99 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 9.806224% 0.000000% 0.000000% 0.000000% 9.806224% 9.954048% 0.000000% 0.000000% 0.000000% 9.954048% 60 Days 1.879037% 0.000000% 0.000000% 0.000000% 1.879037% 1.698067% 0.000000% 0.000000% 0.000000% 1.698067% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 11.685261% 0.000000% 0.000000% 0.000000% 11.685261% 11.652116% 0.000000% 0.000000% 0.000000% 11.652116% OTHER INFORMATION <s> <c> Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00 COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 6.084015% Weighted Average Net Coupon 5.709015% Weighted Average Pass-Through Rate 5.637736% Weighted Average Maturity(Stepdown Calculation) 357 Beginning Scheduled Collateral Loan Count 2,146 Number Of Loans Paid In Full 51 Ending Scheduled Collateral Loan Count 2,095 Beginning Scheduled Collateral Balance 623,738,296.56 Ending Scheduled Collateral Balance 607,031,365.32 Ending Actual Collateral Balance at 29-Jul-2005 607,031,365.32 Monthly P&I Constant 3,202,694.57 Special Servicing Fee 0.00 Prepayment Penalties 124,335.11 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 40,333.69 Unscheduled Principal 16,666,597.55 Group Level Collateral Statement Group 1 2 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 5.568801 5.662823 5.752363 Weighted Average Net Rate 5.193801 5.287823 5.377363 Weighted Average Maturity 357 357 358 Beginning Loan Count 90 54 216 Loans Paid In Full 2 0 1 Ending Loan Count 88 54 215 Beginning Scheduled Balance 28,747,878.87 20,607,046.17 70,884,454.91 Ending Scheduled Balance 27,921,035.03 20,606,271.61 70,432,197.59 Record Date 07/29/2005 07/29/2005 07/29/2005 Principal And Interest Constant 134,203.71 97,245.04 340,880.80 Scheduled Principal 794.36 0.00 1,086.52 Unscheduled Principal 826,049.48 774.56 451,170.80 Scheduled Interest 133,409.35 97,245.04 339,794.28 Servicing Fees 8,983.71 6,439.70 22,151.39 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 95.83 68.69 236.28 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 842.66 515.18 2,231.54 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 123,487.15 90,221.47 315,175.07 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.154627 5.253823 5.335586 Group Level Collateral Statement Group 4 5 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 5.553639 6.194124 6.084015 Weighted Average Net Rate 5.178639 5.819124 5.709015 Weighted Average Maturity 357 357 357 Beginning Loan Count 35 1,751 2,146 Loans Paid In Full 0 48 51 Ending Loan Count 35 1,703 2,095 Beginning Scheduled Balance 13,177,861.98 490,321,054.63 623,738,296.56 Ending scheduled Balance 13,176,423.53 474,895,437.56 607,031,365.32 Record Date 07/29/2005 07/29/2005 07/29/2005 Principal And Interest Constant 62,425.91 2,567,939.11 3,202,694.57 Scheduled Principal 1,438.34 37,014.47 40,333.69 Unscheduled Principal 0.11 15,388,602.60 16,666,597.55 Scheduled Interest 60,987.57 2,530,924.64 3,162,360.88 Servicing Fees 4,118.08 153,225.33 194,918.21 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 43.93 1,634.40 2,079.13 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 329.45 31,051.65 34,970.48 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 56,496.11 2,345,013.26 2,930,393.06 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.144639 5.739129 5.637736